UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 529, 2011

PAB ~~Bankshares~~BANKSHARES, ~~Inc~~INC.

(Exact ~~name~~Name of ~~registrant~~Registrant as ~~specified~~Specified in its ~~charter~~Charter)

Georgia	000-25422	58-1473302
(State or other jurisdiction of incorporation)	(Commission File No.)	(IRS Employer Identification No.)
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
3250 North Valdosta Road, Valdosta, Georgia 31602
(Address of Principal Executive Offices) (Zip Code)
(229) 241-2775 (Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)

	3250 North Valdosta Road, Valdosta, Georgia	31602
	(Address of Principal Executive Offices)	(Zip Code)

Registrant's telephone number, including area code (229) 241-2775

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

~~[ ]~~ o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

~~[ ]~~ o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

~~[ ]~~ o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2-(b))

~~[ ]~~ o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 3 1.0103. Bankruptcy ~~Notice of Delisting~~ or ~~Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing~~Receivership.

On April 529, 2011, ~~PAB Bankshares, Inc. (~~the ~~"Company"),~~Georgia ~~received~~Department aof ~~letter~~Banking ~~from~~and ~~the~~Finance ~~NASDAQ Stock Market~~ (the ~~"NASDAQ~~“Georgia ~~Notice"~~Department”) ~~indicating~~closed ~~that~~The ~~the~~Park ~~Company~~Avenue isBank ~~not~~(“Park inAvenue ~~compliance with the continued listing requirements of NASDAQ Listing Rule 5250(c~~Bank”)~~(1)~~, ~~because~~ the ~~Company~~wholly ~~did~~owned ~~not~~banking ~~timely~~subsidiary ~~file~~of ~~its~~PAB ~~Annual Report on Form 10-K for the year ended December 31~~Bankshares, ~~2010~~Inc. ~~NASDAQ Listing Rule 5250~~(~~c)(1) requires~~ the “Company”), ~~to timely file all required periodic reports~~ and ~~other documents with~~ the ~~Securities~~Federal ~~and~~Deposit ~~Exchange~~Insurance ~~Commission.~~Corporation ~~The~~(the ~~NASDAQ~~“FDIC”) ~~Notice~~was ~~has~~named noas ~~immediate effect on~~ the ~~listing~~receiver ~~or trading~~ of ~~the~~Park ~~Company's~~Avenue ~~common stock on the NASDAQ Global Market~~Bank. As ~~disclosed~~The ~~in the~~ Company'’s ~~Form~~principal ~~12b-25,~~asset ~~filed~~is ~~with~~ the ~~Securities~~common ~~and~~stock ~~Exchange~~that ~~Commission on April 1, 2011, the Company was unable to timely file its Annual Report on Form 10-K for the year ended December 31, 2010 because~~ it ~~has~~owns ~~not~~in ~~yet~~Park ~~completed~~Avenue ~~its audited financial statements for the year ended December 31~~Bank, ~~2010. The Company has until June 6~~and, ~~2011~~as ~~to submit~~ a ~~plan~~result toof ~~regain compliance. If such a plan is timely submitted by~~ the ~~Company,~~closure ~~the NASDAQ staff can grant the company up to 180 calendar days from the due date~~ of ~~the~~Park ~~Form~~Avenue ~~10-K (or until September 27~~Bank, ~~2011)~~the ~~to regain compliance. The~~ Company ~~issued~~has avery ~~press~~limited ~~release~~remaining ontangible ~~April~~assets. ~~11,~~As ~~2011,~~the ~~disclosing~~owner ~~its receipt~~ of ~~the~~all ~~NASDAQ Notice. A copy~~ of the ~~press~~capital ~~release~~stock is attached as exhibit 99.1 and incorporated herein by reference. Cautionary Note Regarding Forward-Looking Statements Certain statements in this current report may be considered "forward-looking statements" within the meaning of ~~the~~Park ~~federal~~Avenue ~~securities laws and are based upon management's beliefs as well as assumptions made based on data currently available to management. When words like "believe"~~Bank, "anticipate", "intend", "plan", "expect", "estimate", "could", "should", "will" and similar expressions are used, you should consider them as identifying forward-looking statements. These forward-looking statements are not guarantees of future performance, and a variety of factors could cause the Company's ~~actual~~would ~~results~~be toentitled ~~differ materially from the anticipated or expected results expressed in these forward-looking statements. Several factors that could cause the Company's actual results~~ to ~~differ materially from those anticipated or expected in these forward-looking statements include~~ the ~~following:~~net ~~general economic conditions (both generally and in our markets) may continue to be less favorable than expected~~recoveries, ~~resulting~~if inany, ~~among~~following ~~other~~the ~~things,~~liquidation ~~a further deterioration in credit quality and/~~or asale ~~reduction~~of inPark ~~demand~~Avenue ~~for~~Bank ~~credit; continued weakness in the real estate market has adversely affected us and may continue to adversely affect us, leading to higher loan charge-offs~~ or anits ~~increase in our provision for loan losses; our ability to liquidate our nonperforming~~ assets ~~may~~by ~~not be successful or may not be on terms that further impact~~ the ~~Bank's~~FDIC. ~~capital position; the possibility that we may fail to comply with our Written Agreement with the Federal Reserve Bank of Atlanta and the Georgia Department of Banking and Finance~~However, ~~which~~at ~~could~~this ~~result in significant enforcement actions against us of increasing severity~~time, upit tois ~~and~~not ~~including~~expected athat ~~regulatory~~any ~~takeover~~such ofrecovery ~~our~~will ~~bank subsidiary; our ability to raise capital to protect against further deterioration in our loan portfolio may~~ be ~~limited~~realized ~~due~~by ~~to unfavorable conditions in~~ the ~~equity markets; and the risk factors discussed from time to time in the~~ Company's ~~periodic~~or ~~reports~~its ~~filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2009~~shareholders. ~~The Company undertakes no obligation to revise these statements following the date of this press release.~~

~~Item~~In 9connection with the closure of Park Avenue Bank, the FDIC issued a press release, dated April 29, 2011, announcing that the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas, pursuant to which Bank of the Ozarks assumed all of the deposits and substantially all of the assets of Park Avenue Bank.01 Depositors will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance. Customers ~~Financial~~who ~~Statements~~have questions about the foregoing matters, or who would like more information about the closure of Park Avenue Bank, can visit the FDIC’s website located at http://fdic.gov/bank/individual/failed/parkavenue_ga.html, or call the FDIC toll-free at 1-800-894-5183. A complete copy of the FDIC’s press release can be found on the Internet at http://fdic.gov/news/news/press/2011/pr11079.html. The management teams of the Company and ~~Exhibits~~Park Avenue Bank have been working closely with the Georgia Department, the FDIC and Bank of the Ozarks to make the transition as smooth as possible for Park Avenue Bank’s customers.

~~(c)~~On ~~Exhibits: 99.1 Press~~May ~~Release~~2, ~~dated~~2011, ~~April~~the 11Company sent a letter to its shareholders informing them of the receivership, ~~2011~~a copy of which is attached hereto as Exhibit 99. 1.

Item 9.01 Financial Statements and Exhibits.


Exhibit		Description

99.1		Letter to shareholders, dated May 2, 2011.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PAB Bankshares, Inc.

ByDate: May 2, 2011 By: /s/ ~~DONALD~~Donald J. ~~TORBERT~~Torbert, JRJr.

Name: Donald J. Torbert, Jr.

Title: President, Chief Executive Officer ~~andInterim Chief Financial Officer~~and

~~Date: April~~Interim ~~11,~~Chief ~~2011~~ Financial Officer

EXHIBIT INDEX

Number		Description
99.1		Press Release dated April 11, 2011.

Filing Compare · PAB BANKSHARES INC